In some good news for those who are negotiating settlements following a catastrophic injury, the Lord Chancellor has today announced a change in the discount rate used by the Courts to calculate personal injury settlements. This is the first time the rate has been changed since 2001.
From 20th March 2017 the discount rate used to calculate future losses will change from 2.5% to -0.75%. The Lord Chancellor, Liz Truss, has introduced the change in order to achieve a more appropriate level of compensation for those who have suffered a catastrophic personal injury through no fault of their own. It will only affect cases with a substantial element of future loss. Today’s statement by the Lord Chancellor to the Stock Exchange can be read here.
The Association of Personal Injury Lawyers have issued a statement and comment that this decision marks a long overdue turning point towards treating injured people fairly and with understanding. It is not only the right thing to do, it takes the cost of caring for people away from the taxpayer and puts it squarely where it should be – with the person who caused the needless injury.”
By Emma Truin, Head of Personal Injury. Contact Emma on 01223 417241 or firstname.lastname@example.org
More Personal Injury Articles
The Legal 500 recognises Barr Ellison as a Tier 1 personal injury law firm in their most recent rankings. Barr Ellison has as 'a professional and very friendly team‘ and 'its willingness to build relationships [...]
How is Personal Injury Compensation Calculated? A brief guide by a specialist in claims relating to Catastrophic Personal Injuries.
The starting point in personal injury litigation is that the Claimant has three years from the date of the incident to start Court proceedings. Under the Limitation Act 1980, if proceedings are not started [...]
Osseointegration is a surgical method which introduces metal into bone with the purpose of achieving permanent bonding between them. It is a surprise to many that, outside the provisions of the NHS, a private [...]
In the crushing wake of a catastrophic personal injury, there is an immediate window of opportunity to implement rehabilitation such that it maximises our client’s (the victim’s) chances of returning as fully as possible to [...]
We offer a free initial consultation, where you will be advised on: 1. The Merits of Your Claim 2. The Methods of Funding open to you 3. Our Focus on Early Rehabilitation, and 4. The [...]
How to make a Personal Injury claim for compensation - a brief 5-step guide tailored to those who are the victims of a catastrophic personal injury.
Emma Truin retains her ranking as a top tier lawyer in both the Legal 500 and Chambers in the Personal Injury (Claimant) category for East Anglia.
Emma Truin is the first lawyer in the Cambridgeshire area to achieve the accolade of a Headway Certificate in Brain Injury Studies, which involved an academic year of study.
You can apply for a deputyship for someone if they ‘lack mental capacity’. A lasting power of attorney is a way of giving someone suitable whom you trust the legal authority to make decisions on [...]